The order index for Italian textile machinery experienced a significant drop of 19 per cent in Q3 2024 compared to the same period last year, according to ACIMIT, the Association of Italian Textile Machinery Manufacturers. The index value stood at 50.6 points (base 2021=100), primarily driven by a 23 per cent decline in foreign markets, which constitute 86 per cent of total orders. Conversely, Italy saw a 15 per cent increase in orders, with the domestic index reaching 61 points, while foreign markets registered 49.1 points.
Despite the rise in domestic orders, the overall situation remains concerning, particularly regarding foreign demand. Marco Salvade, President of ACIMIT, noted that investment in machinery is stagnating in key markets, including India, Turkey, and Bangladesh. The current order backlog stands at 3.8 months of guaranteed production.
To address these challenges, Italian manufacturers are actively exploring opportunities in regions where the textile industry is less technologically advanced. Salvade mentioned that ACIMIT has organized recent missions to Turkmenistan and Kyrgyzstan to evaluate local textile markets and identify technological needs. The efforts highlight the industry's commitment to expanding its footprint in emerging markets amid ongoing struggles in established ones.
